AOL Plans More Jobs Cuts
America Online plans to fire about 700 more employees and will close its Orlando-based call center, which has 450 workers. The Dulles-based company will also dismiss dozens of executives at its corporate headquarters in Northern Virginia and give pink slips to others who work for the company's subscriber service, according to a source familiar with the cuts who spoke on condition of anonymity because the reductions have not been announced publicly.
Nortel Names Zafirovski New Chief
Nortel Networks, the largest North American telephone-equipment maker, named former Motorola official Mike S. Zafirovski chief executive to help win back customers driven away by an accounting fraud. Zafirovski, 51, quit as Motorola's president in January after being passed over for the chief executive job. He will succeed Bill Owens, 65, as president and chief executive on Nov. 15, Brampton, Ontario-based Nortel said.
Yahoo, BellSouth to Offer Internet Service
Yahoo, the most-visited Internet site, and BellSouth will offer a co-branded service that combines BellSouth's Internet connection with Yahoo content.
The service will be offered free to BellSouth's Internet customers starting in late 2006, Yahoo said. The companies will jointly promote the service.
HP Debuts Cheaper Printers, Toner
Hewlett-Packard introduced less expensive color laser printers and toner technology as part of a plan to defend its market lead from competitors.
"Our goal is to double our printing business in 10 years from $24 billion today," said Vyomesh Joshi, head of the printing and imaging group.
Printer shipments for Hewlett-Packard, which counts on its printing business for 58 percent of profit, rose 10 percent last quarter as the profit margin narrowed to 13 percent from 14.8 percent. The company's goal is to keep margins at 13 percent to 15 percent while adding new customers who may buy more-profitable printer supplies, Joshi said.
International Business Machines' third-quarter income fell 2.4 percent on costs to bring back profit earned overseas. Net income was $1.52 billion for the quarter ended Sept. 30, compared with $1.55 billion a year earlier for the world's biggest computer services provider. Sales fell 7.8 percent, to $21.5 billion. Armonk, N.Y.-based IBM recorded tax costs of about $525 million after taking advantage of a tax break to return $9 billion in earnings.
Compiled from staff and news service reports.